HomeMy WebLinkAbout1349 ~r.~~ .
N O T E~ Ss~ ~o~~ ~o.
(For Dir~ct Loon Not Over =25,000) .
City dc Scace FOR r pi r~er ~ i D~
g 6r 000+00 D c. rn a~_~- , t 9~e,~..
~d '3ART~A U. ~ ~
For value received ~ '~x~Y ~ (hereinafter called
"Undorsigned"), prowisea to pay to t}~qord~of Small Business Adminisuation (her '
ar,~$ fter,called "Payec"), at
Payee's OEfice in the ci~y oi a~~° , State of ,
or at Payee's~piiop.,,~,L,,S{t~'„~,,o~ be designated Erom time to timt by the ~ayee, the aum of (write
out amaunt) SI'~ 1~~~~~~i'' ~ r" dollars, w~terest on the unpaid principsl
computzd from the date of each advance to the Undersigned at the rate of
percent per annum, payment to be made in installments as follows:
Yas~, iaoludit~g prinoipal sad ixrt.s~a~ty osch in tha 1~souur~ Oi ;~9T.00~
p~q~bS~ wooR~h~lJ? btgidnieg 'htr~r ( 3~ ~tt~ dst~e~ ~aoh said irrf~l3a~tt to
b~ tirst a}pl.led to 1at~wt a0atv~d to tt~ ds~,~ of rao~i,,t ot sai.d insL~~
#tll~ ~d ~1Q~s ~ ~i ~ ••`^~+~i ~ Ci~1Q ~~10~ ~ ~L1C1 ~1t~~i
~qya~vls oea a~ betorw ais ( 6) y~re lro~ ~sta
Uadersigned further agrees that if at any time SBA eiects to aell or transEer ita interest ia the Loan to a non-
governmental transteroe and SBA determiaes in its sole discretion at that time that a reason+tble rate oE ipterest,
takiag iato consideration all pertinent factors, on commercial abligations, with appro:imately the remaining term
oF this Note and similar repayment experience, in the sec~pf the country in which the UnderaiQned or its prin-
cipal place of business is located, is greater than percent ( ~a `~o)
per annum, then SBA is hzreby sutnorized to specify that such higher rate af interest shall be the rate on the un-
paid principa! computed from the date of such trans(er, but such rate shall aot exceed seven and one-half percent
(7~7~) per annum. The Undersigned shall be notified in writing aot less thxn thirty (30) days before the effective
date of the increase in the rate of interest resulting from thP aforesgid transfer by S$A. This obligation to pay
such inereased rate oC interest shall be binding upon the Undersigned, its successors or assigns.
Payment of any instailmeat of pripcipal or interest owing on t~his Note may be made prior w the maturity date thereof
wit6out penalty.
Afjirmative Covenarats. • Th~ L3ndersigned covenants and agrees that, unul the payment in full of the moueys
owing on this Note~ the Undersigned will:
1, Deliver to Payee within 45 days after rhe end oE each [iscal sanual period, a bafance sheet of the Uu-
dersigned as of such date and a prafit and loss statemcnt of the Undersigned far such ~scal period~ in form satisfac-
tory to the Payee;
~ 2. Deliver to Payee with ceasonable promptness such othes finaacial data at such times and in such form as
Payee may rcquest;
3. Pay all taxes, assessments and other governmental chargea to which the Undersigned, or the property of the
Uadersigned, ia or shall bc subject before such chazges become delinquent, e:cept that no such charge need be
paid so to~g as its validity oe aawunt shall be contestcd in good Esith by appropriate proceedings and the Undcr-
signed shall have aet up oa the books of the tJndersigned such reserve with respect thereto as ahali be required by
sound accounting practices;
4. Keep ail oE the real aad tangiole personal propetty of the Undersigned insured in such amounta and against
such risks as may be satisfactnry to the Payee or as arc tommonly insured sgainst in the same areas by owners o;E
similar propecty, and maintain in face policies of iasurance, satisEactory to Payee, against liability Eor damage to
persons or property and under all applicable wor{cmen's compensation laws.
SBA Form 3260 (7-65)
gooK 129 150
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